A Two Owner Title Search produces a report of a given property going back two owners in the chain of title to the present time. The process entails searching by various methods to retrieve property related documents which are filed on the public land records. Open mortgages, liens and judgments associated with the subject property under the current owners, as well as the individual(s) who owned the property immediately prior to them will appear in the report.
The Two Owner Title Search furnishes information on the property’s tax status and assessment details across relevant authorities for which the property owner is responsible. In the case of delinquent taxes, the report specifies the current amount owed, including interest. Two out-of-family, full-value transfer deeds are supplied—one into the current owner and one into the prior owner. The analysis encompasses all mortgages held by the current and prior owner, with details on any open mortgages, including associated documents like modifications, assignments, foreclosure actions, etc. Furthermore, the report includes information on judgments and liens against the property, as well as those against the current and prior owners. If a foreclosure deed is present, the report includes the foreclosed lien and supporting foreclosure documents.
Typically investors and buyers at auctions are the most common parties who order Two Owner Tile Search Reports. It is likely that the bid amount at an auction will not reflect the total lien amount due; rather, just the base amount. Interest piles up quick, so obtaining lien payoffs from a title report is critical. while the report does not provide title insurance, it is used to get an idea of the encumbrances on the prospective property.
The usual processing time is typically within 24 business hours.
Upon completion of the search, we will email you a link to access the report.